Jubilant reported that the Management Committee for the Krishna Godavari Block (KG-OSN-2001/3), which consists of two nominees from Government of India (Ministry of Petroleum and Natural Gas and Directorate General of Hydrocarbons) has recommended the grant of an extension to the existing contract area by 20.5 km2.

The Field Development Plan (FDP) for Deen Dayal West area (DDW) in Krishna Godavari block, which includes wells KG-8, KG-15, KG-17 and KG-28, was approved by Government of India in November, 2009.

The hydrocarbon plays encountered in discovery wells KG-8 and KG-15 extend towards South/South West of the original block boundary. As per the Production Sharing Contract (PSC"), the Management Committee has recommended the enlargement of the DDW development area in this direction. The previously approved development area for DDW is 17 km2.

As disclosed in CPR at time of the Company's IPO, this extended area of 20.5 km2 will increase the existing 2P reserves and 2C resources for KG block.

Jubilant holds a 10% participating interest in this block through its subsidiary Jubilant Offshore Drilling Private Limited in India. Gujarat State Petroleum Corporation Limited, with an 80% participating interest, is the Operator for the block.

Tags: Jubilant Energy